Amaero (ASX:3DA) is an emerging supplier of high-value refractory and titanium spherical powders including niobium C103 and Ti64, most of which are used in defence and aerospace applications. The company has also developed capability in parts manufacture. The company commissioned a commercial plant in Tennessee in 2024. Amaero aims to be the largest and lowest cost US domestic producer in its space, at a time when the US is investing significant resources to become the new ‘Arsenal of Democracy’.